New Bowling Green, Warwick

About the Property

PUB OVERVIEW

The New Bowling Green is popular with locals and has built up a loyal trade with residents and people working in the town centre. The pub offers a good mix of cask ales, world lagers and Charles Wells craft brews. Food sales have traditionally made up a relatively small proportion of the turnover, but this offers an opportunity to the right operator. The extensive walled garden is a prized asset that drives trade in the summer months.

PROPERTY

The New Bowling Green is part of a 15th Century terrace, with traditional period features. It is on the edge of the town centre and the garden backs onto a large car park used by locals and tourists.

The trading area is served by a single bar and offers circa 30 covers, split between a bar/dining area and a cosy snug room.The pub is serviced by an underground cellar and a well appointed commercial kitchen.The domestic accomodation consists of three bedrooms, lounge and bathroom.

BUSINESS POTENTIAL

Both the food and drink trade offer a great opportunity to develop sales. Engagement with the local community and town centre commuters is key, through a consistent and high quality offer.

A well executed fresh food offer is vital to build trade and the pub has great opportunity amongst people using the town centre and tourists.

From experience based on the style of operation location and previous sales data we have appraised the net Fair Maintainable Turnover to be £412,565 pa. This will support a rent of £35,800 pa.

SUITABLE APPLICANTS

This opportunity would ideally suit an experienced operator with outstanding hospitality skills and the drive and vision to develop sales to execute their business plan. Owing to the location and trading style, experience of a premium food and drink retail offer is essential.

TERMS OF TENANCY/LEASE OFFERED

A 3 year fixed term or renewable tenancy agreement is offered with a full tie to buy all drinks (beer, wines, spirits, minerals, stouts and ciders) from Charles Wells Ltd. A long term fully insuring and repairing lease agreement would be considered for a well-funded and experienced applicant.

PREMISES LICENCE

There is a current premises license in place for alcohol and regulated entertainment, with licensing hours being 11am to 11pm Monday to Saturday and 12 noon to 10:30pm on Sunday. A copy of the license will be made available for applicants to view.

BUSINESS RATES

Information about current business rates can be found at www.voa.gov.uk We always encourage our licensees to challenge rates by using Gerald Eve, our nominated specialist.

ANTICIPATED INVESTMENT REQUIRED

We estimate the Investment required for this pub would be as follows:

Security Deposit in the region of (paid in advance to Charles Wells Ltd) held to cover credit and rental charges. Returnable at the end of the agreement, or £10,000 if Ltd company	£8950
Fixtures and Fittings estimated valuation (paid to the outgoing licensee via the valuer at least 7 days in advance) to purchase e.g. carpets, curtains, tables and chairs, kitchen equipment. The successful applicant must reply upon the valuation provided by their appointed licensed trade valuer in relation to the actual sum to be paid.	£20,000
Stock and Glassware in the region of (paid to the outgoing licensee on the day of changeover) to cover the value of opening stock.	£5000
Valuers Fees in the region of (paid to valuer) for valuing fixtures and fittings.	£800
Training Course Fees per person (payable to Charles Wells Ltd) 5 day CRISP induction course mandatory for all licensees – NB £800 for two people.	£550
Administration Fee in the region of (payable to Charles Wells Ltd in advance) to cover e.g. premises license changes, solicitors fees and agreement.	£750
Advance Rent in the region of (usually 1 month)	£2983
Minimum Working Capital Required	£10,000
APPROXIMATE TOTAL Please note that these are estimated figures, given as a guide only, includes fixtures and fittings.	£49,033

ONGOING COSTS

Rent in the region of (payable monthly in advance)	£35,800 pa
Service Charge in the region of Payable monthly, to include: Cellar cooling service, Buildings insurance, Fire Compliance, Boiler maintenance (tenancies only). NICEIC Electrical Test (tenancies only)	£1,820 pa
Accountancy Services in the region of fees for nominated accountant	£2,600 pa
Stocktaking Services in the region of We recommend all licensees should have six professional stocktakes per annum	£1,560 pa

Please note that these are estimated figures, given as a guide only.
Goods and services may be subject to VAT.

PERSONAL LICENCE

If you’re planning to run a pub you’ll need a Personal Licence. If you don’t already have one, you should start making enquiries to take the one day course and exam to get the Award for Personal Licence Holders (APLH). For information on getting a Personal Licence and training courses available, please look at http://www.charleswellspubs.co.uk/static/training or phone us for the relevant details

PEAT

You will also need to complete the online BII Pre-Entry Awareness Training (PEAT) course, which has been introduced to help prepare new licensees for taking on their own pub. Applicants will be asked to provide evidence that they have completed the course before they can be offered a pub. Details can be found online on the BII website at www.bii.org/peat

APPLICATION FORM

To make an application for this business opportunity, please complete an application form and return it to us as quickly as possible. You can apply online, by post or by calling Philippa Stanbrdige on 01234 244423 or via email at retailrecruitment@charleswells.co.uk. Please fill in as fully as possible and give us a call if you’ve any queries.

INITIAL INTERVIEW

When we’ve had a chance to consider your application, you may be invited to attend an initial interview. This will give you and Charles Wells the chance to learn more about each other. You will also have the opportunity to ask any questions you have.

BUSINESS, FINANCE & MARKETING PLAN & 2ND INTERVIEW

If your initial interview is successful, we’ll ask you to prepare a business plan for the pub for presentation at a 2nd interview. You’ll need to include your ideas for developing the pub’s potential and must also include the source of funding for purchasing the business and any developments that may be needed.

APPOINTMENT

If your application is successful, an offer will be made and confirmed in writing. This will include the legal position or ‘Heads of Terms’ of the appropriate agreement. You’ll be expected to attend our five day retailer induction course (CRISP). This will help prepare you for your new business venture and you’ll meet a number of key Charles Wells staff. If this is your first tenanted or leased pub, we also offer the chance to spend time with one of our experienced retailers in their pub.

BUSINESS SUPPORT

Charles Wells provides a high level of business support, some of which will be provided through the Monthly Service Charge.
• AWP Consultancy
• Short term loans for business purposes
• Technical Services
• Accountancy support / stocktaking
• Payroll support
• Training courses
• Wine List Planning
• Licensing
• Facilities and Compliance review
• Central point of contact through customer helpdesk

MISREPRESENTATION ACT 1967

Charles Wells Ltd gives notice that the contents of these particulars are believed to be correct but are given without responsibility and intending purchasers or lessees should satisfy themselves by inspection or otherwise to their correctness. These particulars do not form any part of any offer or contract and no person in the employment of the company has any authority to make or give representation of warranty to this property.

Other Details

Business Brochure (Click Me!!!)

Demographic Report (Click Me!!!)

Location / Area

Located on the edge of Warwick town centre, the pub is accessible from the St Nicholas Car Park, which is also used by coach tours. Warwick is a historic town with a buoyant tourist and student population. Warwick Castle is a short walk away, and attracts over half a million visitors each year.